Popular (NASDAQ:BPOP) Given New $105.00 Price Target at Barclays

Popular (NASDAQ:BPOP) had its target price lifted by stock analysts at Barclays from $99.00 to $105.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the bank’s stock. Barclays‘s target price points to a potential upside of 21.28% from the stock’s current price.

Several other brokerages have also issued reports on BPOP. StockNews.com upgraded Popular from a “sell” rating to a “hold” rating in a report on Wednesday, April 3rd. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $110.00 price objective (up from $103.00) on shares of Popular in a research note on Wednesday. Piper Sandler raised their price objective on Popular from $96.00 to $105.00 and gave the company an “overweight” rating in a research note on Tuesday, April 9th. Royal Bank of Canada raised their price objective on Popular from $80.00 to $90.00 and gave the company an “outperform” rating in a research note on Friday, January 26th. Finally, Wells Fargo & Company raised their price objective on Popular from $105.00 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $99.89.

Popular Price Performance

Shares of Popular stock opened at $86.58 on Thursday. The firm has a market cap of $6.26 billion, a price-to-earnings ratio of 12.85 and a beta of 0.82. Popular has a 52-week low of $52.32 and a 52-week high of $89.70. The stock has a 50-day simple moving average of $84.61 and a 200-day simple moving average of $79.05.

Popular (NASDAQ:BPOP) last announced its quarterly earnings results on Thursday, January 25th. The bank reported $1.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.89. The business had revenue of $702.92 million during the quarter, compared to analyst estimates of $699.76 million. Popular had a return on equity of 11.95% and a net margin of 11.95%. As a group, equities research analysts predict that Popular will post 8.46 earnings per share for the current year.

Insiders Place Their Bets

In other Popular news, EVP Luis E. Cestero sold 599 shares of Popular stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $85.65, for a total value of $51,304.35. Following the transaction, the executive vice president now directly owns 26,529 shares of the company’s stock, valued at approximately $2,272,208.85. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, EVP Luis E. Cestero sold 599 shares of Popular stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $85.65, for a total transaction of $51,304.35. Following the sale, the executive vice president now owns 26,529 shares of the company’s stock, valued at approximately $2,272,208.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Luis E. Cestero sold 4,641 shares of Popular stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $84.42, for a total value of $391,793.22. Following the sale, the executive vice president now directly owns 26,772 shares in the company, valued at approximately $2,260,092.24. The disclosure for this sale can be found here. Company insiders own 2.09% of the company’s stock.

Institutional Trading of Popular

Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Popular by 1.9% during the 3rd quarter. Vanguard Group Inc. now owns 9,016,116 shares of the bank’s stock worth $568,105,000 after purchasing an additional 171,391 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Popular by 0.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,108,821 shares of the bank’s stock valued at $337,213,000 after buying an additional 19,849 shares in the last quarter. Wellington Management Group LLP boosted its stake in Popular by 6.0% in the 4th quarter. Wellington Management Group LLP now owns 3,816,736 shares of the bank’s stock valued at $313,240,000 after buying an additional 216,855 shares in the last quarter. Norges Bank acquired a new stake in Popular in the 4th quarter valued at $66,881,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in Popular by 3.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 733,072 shares of the bank’s stock valued at $60,163,000 after buying an additional 21,386 shares in the last quarter. Institutional investors and hedge funds own 87.27% of the company’s stock.

Popular Company Profile

Popular, Inc, through its subsidiaries, provides various retail, mortgage, and commercial banking products and services in Puerto Rico, the United States, and the British Virgin Islands. The company provides savings, NOW, money market, and other interest-bearing demand accounts; non-interest bearing demand deposits; and certificates of deposit.